Question / Issue #4: Will the project hurt home values?
“Home values and investment decisions were and are driven by the existing density. Property values will be negatively impacted if this change is made. Zoning protects and promotes property values because growth will be limited to what the zoning allows. Communities that up-zone tend to do so because most lots are already as much built up as they can be under the existing zoning and people have expressed a desire to build more. Currently, there are several buildable lots off Hiatus road for residential housing.“
RESPONSE:
Rexmere Village currently consists of 774 home sites. An additional 75 are negligible in this context — but not so negligible to the many teachers, nurses, police, fire and other essential workers that cannot afford million-dollar homes on an acre of land. Our town’s essential workers desperately need, and deserve, affordable and attractive housing in close proximity to their jobs.
There is absolutely no evidence that Rexmere Village is a detriment to neighboring property values. Property values all around Rexmere Village have been consistently appreciating for the 30 years Rexmere Village has been a neighbor. Below is an example of a Single Family Home that has tripled in value since 1994 despite being right next to Paradise Village — Rexmere Village’s sister community.
“I am a REALTOR with familiarity of Rexmere Village & Paradise Village and surrounding communities. Rexmere Village & Paradise Village have existed for decades. They are very nicely run communities and I do not believe they have negatively impacted property values in any way, while providing an important source of attractive affordable housing, which is in short supply in South Florida. Surrounding areas to these communities have continued to appreciate significantly over the decades that these communities have existed.”
– Ralph Caruso
“I have been in real estate for over seven years and I am familiar with Rexmere and Paradise Village. The communities are well-maintained and strive to enforce the rules. I have witnessed constant care and upgrades throughout the communities, and believe they have a positive impact on the area providing housing for our most valuable heroes, many who are on the front lines.”
– Melissa Hisman